A U.S. judge in Pennsylvania on Friday blocked a U.S. Commerce Department order set to take effect on Nov. 12 that would have effectively barred Chinese-owned short video-sharing app TikTok…
Category: Business
Chevron posts profit on deep cost cuts, improved oil prices
Chevron Corp CVX.N on Friday posted a surprise third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results. Chevron and its peers have slashed spending…
Exxon posts third straight quarterly loss as pandemic hits demand, prices
Exxon Mobil Corp XOM.N posted its third straight quarterly loss on Friday and detailed deeper spending cuts to come, as the oil major reels from the COVID-19 pandemic's impact on…
Judge sets November deadline for Google’s initial response to U.S. antitrust case
Alphabet’s Google must tell a district court how it will respond to a federal antitrust lawsuit by mid-November, with the two sides making initial disclosures later in the month, U.S.…
Marlboro maker Altria takes $2.6 billion hit as Juul valuation crumbles
Altria Group Inc MO.N on Friday took a third-quarter hit of $2.6 billion to its investment in Juul Labs Inc, further diminishing the value of its initial $12.8 billion stake…
Days before election, economic data reveals gradual improvement, gloomy outlook
With the presidential election drawing near, a litany of data released this week shows the U.S. economy continues to climb out of the recession caused by the coronavirus pandemic, but…
Chevron, Exxon shrink spending as coronavirus cuts demand
U.S. oil majors Chevron Corp and Exxon Mobil Corp cut spending aggressively in the third quarter in a race to offset weak trends in fuel demand caused by the COVID-19…